Victory Capital Holdings, Inc. Class A Common Stock · NASDAQ:VCTR
Victory Capital Holdings, Inc. Class A Common Stock — Q1 2026 Earnings Presentation
9 slides from Victory Capital Holdings, Inc. Class A Common Stock's earnings presentation, Feb 18, 2026
Slide 1: Mid-Quarter Macro Update Q1 2026
Mid-Quarter Macro Update Q1 2026 Macro Drives Markets. WestEnd Knows Macro. 20260218-5230801
Slide 2: U.S. Equity Sector Allocations
U.S. Equity Sector Allocations WESTEND ETF STRATEGIES Current large-cap U.S. equity sector allocation and avoidance* Sector Sector Allocations Avoidance • Financials • Energy • Health Care • Industrials • Consumer Staples • Materials • Communication Services • Real Estate • Consumer Discretionary •
Slide 3: International Equity and Fixed Income Allocations
International Equity and Fixed Income Allocations WESTEND GLOBAL ETF STRATEGIES Current regional equity allocation positioning in global portfolios* Regional Equity Overweights Regional Equity Underweights • U.S.A. • Europe • Asia (Developed and EM) • Emerging Markets (ex-Asia) WESTEND BALANCED ETF
Slide 4: Late-Cycle Expansion Continues in 2026
Late-Cycle Expansion Continues in 2026 LABOR MARKET UNLIKELY TO MATERIALLY IMPROVE... 12% -80% Jobs Plentiful Less Hard to Get 11% Unemployment Rate (lhs) 10% Labor Differential (rhs, inv) -60% Portfolio Impact: The U.S. economy entered 2026 in what we Unemployment Rate 9% -40% would describe as a l
Slide 5: Information Technology: Opportunity & Uncertainty
Information Technology: Opportunity & Uncertainty PROJECTED AI/TECH-RELATED MEGA-CAP FREE CASH FLOW $3,000 Includes: META, GOOGL, $2,500 MSFT, AAPL, NVDA, AMZN, Portfolio Impact: Sectors like Information Technology and TSLA, AVGO, ORCL, and PLTR Communication Services appear poised to generate durab
Slide 6: Positioning for Broader Market Leadership
Positioning for Broader Market Leadership LARGE CAP DOMINANCE IS COOLING OFF 3.4 3.0 Portfolio Impact: We have broadened exposure within our Ratio of SPX to RTY Index Level Ratio of SPX to RTY EPS Ests. 3.2 2.8 global portfolios’ U.S. equity allocations by adding small-cap 3.0 U.S. equities and a ta
Slide 7: International Offers Range of Opportunities
International Offers Range of Opportunities INTERNATIONAL GROWTH OPPORTUNITIES ARE ATTRACTIVE 25% 25 EPS Growth 20% P/E Ratio 20 Portfolio Impact: We see attractive opportunities in U.S. FY 2026 EPS Growth FY 2026 P/E Ratio 15% 15 small-caps, with strong earnings recovery potential and limited conce
Slide 8: Real Asset Class Returns Driven by Macro Environment
Real Asset Class Returns Driven by Macro Environment REAL ASSETS ARE ADDITIVE, BUT MACRO MATTERS 2.5 2.0 1.5 Portfolio Impact: We continue to see a bifurcated global 1.0 economy with a wide range of disparate factors influencing Information Ratio 0.5 growth and inflation outlooks. Against this macro
Slide 9: Footnotes & Disclosures
Footnotes & Disclosures WestEnd Advisors, LLC (“WestEnd”), an SEC-registered investment adviser, operates as an autonomous Victory Capital® Investment Franchise. WestEnd’s active principals are responsible for managing the firm and its day-to-day operations. Registration of an investment adviser doe
Victory Capital Holdings — Q1 2026 Earnings Presentation on 6ix